Issue 1381 - 2 June 2020

HEADLINES IN THIS ISSUE

  • PIC extends Matshepo More’s suspension, despite inquiry clearing her
  • Dudu Myeni declared a delinquent director
  • Tshwane out to recover R1bn lost in deals gone wrong
  • Former Western Cape police commissioner out on parole
  • Investors Fear Cryptocurrency CEO Accused of Stealing Millions Could Be On the Run
  • And more...

PIC extends Matshepo More’s suspension, despite inquiry clearing her

Matshepo More was suspended in March 2019 for her role in irregularities related to the PIC’s investment in Ayo Technology Solutions. The Ayo transaction was one of several that was flagged for investigation by the Mpati commission on inquiry, which investigated corruption at the PIC.Business Day- 29 May 2020 - Click here

Dudu Myeni declared a delinquent director 

During the trial, Outa and Saapa legal counsel Advocate Carol Steinberg asked the court to declare Myeni a delinquent director, arguing that she was responsible for the financial maladministration while the national airline’s board chairperson from 2012 until 2017. IOL - 27 May 2020 - Click here

Tshwane out to recover R1bn lost in deals gone wrong

"The financial status of the city is being managed with caution. We have roped in Sars to assist with our forensic investigation capacity in instances where fruitless and irregular expenditure has taken place." Sowetan Live - 26 May  2020 -Click here

Former Western Cape police commissioner out on parole

Lamoer was sentenced to six years in prison after he was found guilty of corruption in the Western Cape High Court. He had pleaded guilty to one of the corruption charges he faced. The Citizen - 28 May 2020-Click here

Investors Fear Cryptocurrency CEO Accused of Stealing Millions Could Be On the Run

Bitcoin investors who poured millions into VaultAge Solutions are concerned that its CEO has made a run for it after not hearing from him since December. There is speculation that Willie Breedt is staying near Jeffrey's Bay and while the Hawks are investigating, information indicates he has left the country.

All Africa- 29 May 2020 - Click here

Tanzania: Corruption Weighs Heavy On Local Councils

The parliamentary oversight committee on local authorities' accounts-LAAC attributed fraud and abuse of public funds in the councils to inconsistency by the central government in disbursing development grants, bureaucracies in paying off contractors and poor harmonization of the EPICOR accounting system. All Africa- 29 May 2020 -Click here

US Treasury pressure leads to new probe of African Development Bank chief

Unidentified whistleblowers accused Adesina, 60, of handing contracts to acquaintances and appointing relatives to strategic positions. The Abidjan-based lender declined to comment. Adesina didn’t respond to an emailed request seeking comment, while a call to his mobile phone didn’t connect.Fin24 - 27 May 2020 -Click here

Climate Change Is Turning Parts of Antarctica Green, But It's Not Grass

While more algae means more CO2 is absorbed, the plants could have a small but adverse impact on local albedo – how much of the Sun's heat is reflected back from Earth's surface. Science Alert - 21 May 2020 -Click here